Connecticut officials call on M&T Bank to provide answers following more than 300 layoffs

The bank says it has laid off 325 employees so far and plans to eliminate 333 more positions.

News 12 Staff

Oct 3, 2022, 9:24 PM

Updated 648 days ago

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Sen. Richard Blumenthal is calling on M&T Bank to provide more answers about the layoffs ordered following its takeover of Bridgeport-based People's United.
The bank says it has laid off 325 employees so far and plans to eliminate 333 more positions.
However, M&T says it plans on making 350 new hires in the coming months.
Blumenthal calls the moves "inconsistent" and says trust and credibility in the company are evaporating.
Connecticut Attorney General William Tong said, "I've asked for that meeting and I am hoping that can be scheduled soon. I've said this before, and I will say this again—I want M&T to succeed. I want this merger to work out. We've got a lot of work to do to get there. To date, my office has received over 200 complaints regarding the merger, and we are meeting daily with M&T to resolve these issues. These complaints continue to come in every day. I'm going to stay on top of this until these issues are resolved. I know M&T wants to see these issues resolved as well."


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